Administrative/Regulatory
Jul. 9, 2024
CFPB targets repeat offenders with ‘Scarlet Letter’ rule finalization
The Consumer Financial Protection Bureau has issued a final rule that creates a public registry for certain nonbank financial institutions that have broken consumer protection laws and are subject to a public government or court order. The inclusion of the “repeat offender” registry is a component of the Bureau’s larger initiative aimed at discouraging corporate repeat offenses.
Moorari Shah
Partner
Sheppard, Mullin, Richter & Hampton LLP
Moorari is a partner in the firm's Finance and Bankruptcy Practice Group.
As part of its ongoing efforts to deter what it views as rampant corporate recidivism, the Consumer Financial Protection Bureau (CFPB) issued a final rule on June 3, 2024, that creates a public registry for certain nonbank financial institutions that have broken consumer protection laws and are subject to a public government or court order. This “repeat offender” registry is part of the Bureau’s broader efforts to clamp down on providers of financial products and serv...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In